American Electric Power (NASDAQ:AEP) Releases FY24 Earnings Guidance

American Electric Power (NASDAQ:AEP) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $5.58-5.68 for the period, compared to the consensus EPS estimate of $5.63. American Electric Power also updated its FY 2024 guidance to 5.580-5.680 EPS.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on AEP shares. Scotiabank boosted their price target on American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Evercore ISI dropped their target price on American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a research note on Thursday. Bank of America raised their price target on American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. Morgan Stanley upped their price objective on shares of American Electric Power from $102.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Finally, Jefferies Financial Group assumed coverage on shares of American Electric Power in a research report on Friday, September 20th. They issued a “hold” rating and a $107.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $98.27.

American Electric Power Stock Up 0.1 %

Shares of NASDAQ:AEP traded up $0.07 during mid-day trading on Friday, hitting $96.40. 2,547,094 shares of the company traded hands, compared to its average volume of 3,154,165. The firm’s 50 day simple moving average is $100.59 and its 200 day simple moving average is $94.79. The firm has a market cap of $51.30 billion, a P/E ratio of 19.28, a PEG ratio of 2.81 and a beta of 0.55. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.48 and a current ratio of 0.65. American Electric Power has a 52-week low of $74.97 and a 52-week high of $105.18.

American Electric Power Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be given a dividend of $0.93 per share. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date is Friday, November 8th. American Electric Power’s payout ratio is presently 70.12%.

American Electric Power Company Profile

American Electric Power Company, Inc, an electric public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers in the United States. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.